Chicago's East Side Bank & Trust Newest Phoenix International Client.

ORLANDO, Fla.--(BUSINESS WIRE)--April 26, 1999--

Phoenix International Ltd., Inc. (NASDAQ/NM:PHXX), a world leader in delivering client/server core banking application software, today announced that East Side Bank & Trust Company has signed an agreement to implement the Phoenix System as its core banking and information management system.

Based in Chicago, Illinois, the $230 million community bank was processing its 25,000 accounts under a service bureau arrangement with two different Midwest providers. The bank opted for Phoenix's client/server banking system in order to overcome the restrictions and limitations of legacy systems providers.

According to East Side Bank & Trust Company President Thomas J. Olivieri, the bank was ready to take full control over their information processing operations and migrate to a client/server environment.

"We realized that to be competitive, serve our clients and continue to offer new products and services, client/server technology is the 'shot in the arm' we needed to gain back control over our operations. We had been processing in a service bureau environment with two different legacy systems and decided it was time to bring it in-house. We learned about Phoenix from a seminar they held in our area, and what struck us was how our view of the banking industry and our technology strategy parallels theirs," he said.

Olivieri continued, "We had also been paying close attention to the number of de novo institutions Phoenix was signing, because they typically seek the most advanced technology available in order to compete against much larger banks in their market. We view them as a strong competitive force in the coming years and wanted equally advanced capabilities like Internet Banking. Phoenix will also be working with us to design our web site. One other thing that helped solidify our decision was the fact that the Company has a 'campus-like' atmosphere. Phoenix has the same level of energy and excitement about their software that we have about providing quality financial services to our customers. We believe Phoenix and its client/server technology is the absolute future of banking."

According to Phoenix International President and Chief Operating Officer Raju Shivdasani, East Side is a prime example of the growing number of community banks that are seeking technology to help them compete effectively against even the very largest financial organizations.

"U.S. community banks like East Side are exactly the type of financial institutions that are choosing to partner with Phoenix. They have the vision to see that in order to sustain their long-held position as a customer-centric financial organization, they must have the right technology foundation to make it easy for their entire staff to serve customers. Through its technology, Phoenix delivers the tools necessary to strengthen East Side's standing as a friendly, efficient, yet highly innovative community bank. While the technology itself may be invisible to the bank's customers, what East Side customers will see is a bank that has stayed true to its community banking roots, yet is fully capable of delivering a full range of advanced products and services like the mega banks. This is the essence of what the Phoenix System does best," Shivdasani said.

Phoenix International Ltd., Inc., headquartered in Orlando, Florida, is a leading provider of highly adaptable, enterprise-wide client/server application software to the financial services industry worldwide. The Company's products include the Phoenix System, a fully integrated client/server retail banking system that includes customer relationship information management, on-line customer profitability analysis, financial reporting, an executive information management system and fully integrated teller, telephone, ATM and Internet banking modules; Phoenix TradeWind(TM), a trade finance system; and Phoenix TradeCentre, a global payments system. As a full service provider, Phoenix offers clients a full complement of professional and systems integration services.

This press release contains statements which constitute forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. These statements appear in a number of places in this release and include all statements that are not statements of historical fact regarding the intent, belief or expectations of the Company and its management with respect to, among other things: (i) the anticipated impact of certain events and circumstances; (ii) trends affecting the Company's financial condition or results of operations; and (iii) the Company's growth strategy and operating strategy. Phoenix's actual results may vary significantly from the results anticipated in these forward-looking statements as a result of various risks, assumptions and certain factors. Among the key risks, assumptions and factors that may affect operating results, performance and financial condition are the Company's reliance on significant new customers and the timing of customer contracts; dependence on strategic alliances and marketing relationships; ability to expand and leverage its sales force and other distribution channels worldwide; fluctuations in quarterly results; ability to continue and manage growth; Year 2000 risks and concerns; competition and other factors that are discussed in detail in Phoenix's filings with the Securities and Exchange Commission, including the "Risk Factors" section in Phoenix's Registration Statement on Form S-1 (Registration No. 333-31415), as declared effective by the Securities and Exchange Commission on August 13, 1997.